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LONDON, Feb 7: Oil prices rebounded on Monday to briefly stand back above $100 amid lingering concerns over the impact of the political uncertainty in Egypt.
By late Monday in London and after breaching $100 a barrel, Brent North Sea crude for delivery in March was at $99.95, up 12 cents compared with Friday's close.
New York's main contract, light sweet crude for March, dropped 63 cents to $88.40 a barrel.
The price of New York crude lags far behind Brent owing to large supplies of oil remaining at the main US transit point of Cushing, Oklahoma, according to analysts.—AFP
